US ISM Services PMI
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
Above 50.0 indicates industry expansion, below indicates contraction. Source changed series from unadjusted to seasonally adjusted as of January 2001. Source changed series calculation formula as of Feb 2008;
- US ISM Services PMI Graph
- History
Expected Impact / Date | Actual | Forecast | Previous |
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Jun 5, 2024 | 53.8 | 51.0 | 49.4 |
May 3, 2024 | 49.4 | 52.0 | 51.4 |
Apr 3, 2024 | 51.4 | 52.8 | 52.6 |
Mar 5, 2024 | 52.6 | 53.0 | 53.4 |
Feb 5, 2024 | 53.4 | 52.0 | 50.6 |
Jan 5, 2024 | 50.6 | 52.5 | 52.7 |
Dec 5, 2023 | 52.7 | 52.2 | 51.8 |
Nov 3, 2023 | 51.8 | 53.0 | 53.6 |
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- US ISM Services PMI News
The May US ISM services index rose quite a bit more than expected to a nine month high of 53.8 from 49.4. It was led by strong business activity (61.2 versus 50.9 in April) and rising new orders (54.1 versus 52.2) which, in turn, appears to be driven by export order strength (61.8 versus 47.9 in April). The volatility in the activity component is surprising and it may be best to take an average of May and April, which would give 56.1 versus 57.4 in March and 57.2 in February. So that would be consistent with firm, but modestly ...
The US services sector expanded in May by the most in nine months, powered by the largest monthly gain in a measure of business activity since 2021. The Institute for Supply Management’s composite gauge of services jumped 4.4 points, the most since the start of last year, to 53.8. Readings above 50 indicate expansion, and the May figure exceeded all forecasts in a Bloomberg survey of economists. The ISM’s business activity index — which parallels the group’s factory output gauge — soared 10.3 points, the largest monthly advance since ...
Economic activity in the services sector grew in May after contracting in April for the first time since December 2022, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The Services PMI® registered 53.8 percent, indicating sector expansion for the 46th time in 48 months. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In May, the Services PMI® registered 53.8 percent, ...
We try not to react to just one data point because, as we have always said, “a data point doesn’t a trend make.” Furthermore, we don’t know if this is just a one-time event or if it is the start of something more. But we have been expecting a slowdown in economic activity for a while, and April’s 175,000 nonfarm payrolls is the first sign that maybe, just maybe, our expectation for a slowdown in economic activity is finally here. If you look at our forecast, we are still expecting a slowdown in economic activity, if not for any ...
The U.S. services sector contracted in March, while a measure of prices paid by businesses for inputs jumped, a worrisome sign for the outlook on inflation. The Institute for Supply Management (ISM) said on Friday that its non-manufacturing PMI fell to 49.4 last month from 51.4 in March, the lowest reading since December 2022. A reading above 50 indicates growth in the services industry, which accounts for more than two-thirds of the economy. The PMI adds to evidence that the economy is beginning to lose some steam after expanding at ...
Economic activity in the services sector contracted in April for the first time since December 2022, ending a period of 15 consecutive months of growth, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The Services PMI® registered 49.4 percent; it indicated sector expansion in 45 of the previous 47 months. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In April, the Services PMI® registered 49.4 percent, 2 percentage points lower than March's reading of 51.4 percent. The composite index indicated contraction in April after 15 consecutive months of growth since a reading of 49 percent in December 2022, the first contraction since May 2020 (45.4 percent). The Business Activity Index registered 50.9 percent in April, which is 6.5 percentage points lower than the 57.4 percent recorded in March. The New Orders Index ex post: US ISM Services Index Apr: 49.4 (est 52.0; prev 51.4) - Prices Paid: 59.2 (est 55.0; prev 53.4) - Employment: 49.5 (est 49.0; prev 48.5) - New Orders: 52.2 (est 54.5; prev 54.4)
Chart #1 shows the results of the March survey of purchasing managers in the service sector (by far the largest part of the economy). It is consistent with the view I've maintained for well over a year, which is that the economy continues to grow at a non-spectacular pace. Chart #2 shows that the number of firms that report paying higher prices continues to decline. This same statistic surprised to the upside in January, thus fueling speculation that maybe the Fed was right to move slowly on rate reductions. But as often happens, ...
The March ISM services index is weaker than expected, falling to 51.4 from 52.6 and coming in below the 52.8 consensus. Out of the 52 forecasts submitted to Bloomberg, only one person predicted anything weaker than this outcome - remember that vehicle sales (yesterday) came in below everyone's expectations and construction spending (Monday) came in below everyone's expectations, but the strength in the ISM manufacturing survey has dominated the commentary and market direction since its release Monday morning. The details show ...
Released on Jun 5, 2024 |
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Released on May 3, 2024 |
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Released on Apr 3, 2024 |
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